OTC 2012: Majority think gas could replace oil as US principal energy source

Offshore staff

HOUSTON – Unconventional gas production in the United States could cause gas to replace oil as America’s primary energy source, according to a poll at the Offshore Technology Conference. Of the participants, 56% thought gas will replace oil as the country’s principal source of energy over the next 18 years. Forty-four percent thought that oil would remain dominant.
 
The Industry Snapshot Poll was conducted by global independent technical advisor GL Noble Denton. The poll was also completed online by senior players across the industry.
 
Pekka Paasivaara, member of the GL Group Executive Board, said: “The American unconventional gas market is rapidly changing the local energy landscape. Shale gas accounted for barely 2% of US natural gas production a decade ago. Today it is approaching 30% and rising.
 
“The result of this poll highlights the extent to which the American gas ‘revolution’ could grip the local energy market. The US currently stands as the world’s third largest oil producer, and our poll demonstrates significant industry confidence in the ability for the local unconventional gas market to compete.”
  
5/2/2012



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